FMHIvsHYDETF Comparison
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First Trust Municipal High Income ETF (FMHI) and VanEck High Yield Muni ETF (HYD) belong to the same industry segment: Municipal Bonds. In contrast, HYD's top sector exposures are Municipal. FMHI is more expensive with a Total Expense Ratio (TER) of 0.49%, versus 0.32% for HYD. FMHI is down -0.77% year-to-date (YTD) with +$196M in YTD flows. HYD performs worse with -1.57% YTD performance, and +$535M in YTD flows. Run a side-by-side ETF comparison of FMHI and HYD below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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FMHI vs HYD performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FMHI HYD | -1.13%-0.86% | -4.87%-3.95% | -0.77%-1.57% | -0.23%-0.91% | +11.04%+13.01% | -4.05%-4.06% |
| Flows | FMHI HYD | +$6M+$368M | +$82M+$62M | +$196M+$535M | +$241M+$981M | +$597M+$1.81B | +$798M+$1.62B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FMHI HYD | +6.23%+5.81% | +3.82%+3.64% | +4.52%+4.51% | +4.56%+4.67% |
| Max drawdown | FMHI HYD | -7.19%-6.17% | -7.47%-6.77% | -7.47%-6.77% | -18.93%-19.44% |
| Max drawdown duration | FMHI HYD | 88d92d | 105d102d | 105d102d | 1746d1747d |
Trading data
FMHI | HYD | |
Last sale 10/16/2026 at 1:30 PM | $45.49 | $48.74 |
| Previous close 10/15/2026 | $45.45 | $48.82 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 18, 2026
1-year trailing difference
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FMHI
is actively managed and doesn’t replicate an indexFMHI | HYD | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
FMHI | HYD | |
|---|---|---|
| Last price | $45.49 | $48.74 |
| 1D performance | +0.08% | -0.16% |
| AuM | $1.02 B | $4.35 B |
| E/R | 0.49% | 0.32% |
Characteristics
FMHI | HYD | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | First Trust | VanEck |
| Benchmark | - | ICE Broad High Yield Crossover Municipal Index |
| N° of holdings | - | 714 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 1, 2017 | February 4, 2009 |
| ESG | No | No |
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Exposure
Countries
FMHI
Data will be available soon
HYD
USA
60.08%
Other
39.92%
Sectors
FMHI
Data will be available soon
HYD
Municipal
60.08%
Other
39.92%
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Diversification
FMHI
Data will be available soon
HYD
Total weight of top 15 holdings out of 15
8.65%
Top 15 holdings
Data as of January 1, 1970
FMHI
Data will be available soon
HYD
Puerto Rico Sales Tax Financing Corp., 0% 1jul2046, USD (10001D)
1.01%
Chicago Board of Education, 5% 1dec2042, USD (2012A)
0.79%
Tobacco Settlement Financing Corp. (NJ), 5% 1jun2046, USD (2018B)
0.74%
New York Transportation Development Corp., 5% 1jul2046, USD (2016A)
0.63%
Buckeye Tobacco Settlement Financing Authority, 5% 1jun2055, USD (2020B-2)
0.62%
Puerto Rico Sales Tax Financing Corp., 4.75% 1jul2053, USD
0.61%
Chicago Board of Education, 5.25% 1dec2039, USD (2015C)
0.55%
Florida Development Finance Corp., 5% 1jul2044, USD (2024)
0.52%
New York Transportation Development Corp., 5.25% 1jan2050, USD (2016A)
0.48%
Puerto Rico Sales Tax Financing Corp., 5% 1jul2058, USD
0.47%
US442349GA89
0.47%
Arkansas Development Finance Authority, 5.45% 1sep2052, USD (2022)
0.45%
California Municipal Finance Authority, 4% 15jul2029, USD (2019)
0.44%
Iowa Finance Authority, 4.75% 1aug2042, USD (2012)
0.44%
California Statewide Communities Development Authority, 5.25% 1dec2056, USD (2016A)
0.44%
Frequently asked questions about FMHI and HYD
How have the FMHI and HYD ETFs performed in 2026?
As of October 15, 2026, FMHI is down -0.77% year-to-date (YTD), while HYD has lost -1.57%. That puts FMHI better performer ahead so far this year.
Which ETF is attracting more investor money: FMHI or HYD?
Year-to-date, the FMHI ETF saw +$196M in flows, compared to +$535M for HYD.
Which ETF is more volatile: FMHI or HYD?
Over the past year, FMHI had a volatility of 3.82%, while HYD experienced 3.64%.
Which ETF is bigger: FMHI or HYD?
As of October 15, 2026, FMHI holds $1.02 B in assets under management (AUM), while HYD manages $4.35 B.
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Latest news about FMHI & HYD
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